All Forum Posts by: Sondra Mckibben

@Stan Butler

Lol We do higher end rehabs, but with this rehab we bought it for 40k, with 50k in rehab and we sold it for 130k in 11 days!!  Made 40k in profit!!  Every rehab is different depending on price point, even with lower price point homes we try to make those homes have a luxury feel as well.  WE do use granite and quartz on higher end properties! lol

@Chas Fabiano just FYI her 18K that she owes on her mortgage comes out of her 69,500 cash offer!! You don't take that off the ARV, ARV stands for after repair value!

I used the 10K wholesale fee as an Example as i said, and you can set your wholesale fee according to your deal and price point of the property you are wholesaling!!  This is where the integrity comes into play and knowing my sellers, knowing my buyers come into play.  I love repeat business!!  I don't want to screw people over either, so if i was to wholesale this particular deal and ask for a 30k wholesale fee this seller would get only 49,500 from me.  Which in turn minus the 18k mortgage she still owes, now gives her 31,500.  

I listen to my sellers, i am here to help them!!! Yes, I want to make money, but i make money by repeat business and word of mouth. My wholesale fees depend on the ARV of the properties.

@Stan Butler 

Thanks for the input, we love our stainless steel appliances, the counter-tops are Formica actually, we use different cabinet colors, but for this home we used white!!  

Sondra

@Matt Ellis 

Hello, First you need to find out the True ARV is first. Do you have a Realtor you work with that can get you what the house is actually worth or a program that can tell you that. You say there is no repairs needed on the house at all? (Are you sure, if its for rehab are the windows, roof, furnace, water heater, AC, kitchen, bathrooms, paint and flooring good?) If your exit strategy is to wholesale to investor that will be using it as a rental and no repairs is good, but you need to know what your investors price point is for that neighborhood and minus your wholesale fee from the price you offer your seller. NOW if you exit strategy is to wholesale to an investor to rehab or keep for yourself to rehab you need to know the ARV so lets say the ARV is 135,000 x .70 =94,500 minus repairs 15,000 minus wholesale fee 10,000 =69,500 ALL CASH close quick offer to seller. (you set your wholesale fee amount, that was an example) Most important tho is what your seller is needing, listen to your seller, and try very hard to accommodate their needs, have compassion for their situation, answer all questions and remember honesty and integrity will take you a LONG WAY in this business!!! Good Luck, sounds like a good deal to me!!!

Just sharing, this is the last kitchen we did in Dec 2014!!  We are in the Dayton, Ohio market!  

@Mike Schena 

Hello, I wanted to introduce myself, I'm Sondra, I live in Beavercreek!!! Welcome to Bigger Pockets, we look forward to seeing you on here more, if you have any questions about real estate this is the place to be!!! I have been in real estate now for about a year and a half now, i read so much, I have had some great mentors that have taught me so much!!! I love real estate investing, I do primarily wholesaling and rehabbing! I have not started any hold properties yet, but getting ready to include a couple. I would really enjoy meeting with you sometime if you would like to pick each others brains, see if we can help each other out on what are wants and needs maybe!! I come across lots of hold properties, SFH and Multi units that you might be interested in. I would like to invite you to a Real Estate Networking meeting that we have in Beavercreek on the 2nd Mondays of every month, so our next one is tomorrow night the 12th of Jan at Logans Steakhouse. Its a free meeting, just alot of us investors who get together, we get to know each other, we offer up deals, find out what we are all looking for, question and answers, and more networking!!! Here is my number 727-433-2033 (its a Florida number i know, military thing lol) give me a call, would love to chat more!!!!

@Engelo Rumora 

  Hi I would love to chat with you as well sometime about hold properties here in Dayton, i know your not really interested at this time here in Dayton, but I would love to still chat!! 727-433-2033

Thanks Sondra

@Matt R. 

Thanks, I work with two partners that are amazing, we love designing our kitchens and bathrooms!!

Sondra

Here is one of the new kitchens we did in our Rehabs we did. What are your thoughts?

@David McNeely  Im glad you took my advice and joined Bigger Pockets, you will really enjoy the networking on here, and if you ever have a question about investing you can definitely find the answers on here.  So many knowledgeable folks on here.  Really looking forward to working with you, and helping in anyway I can!!!

@Account Closed 

Dayton, Ohio of course, lol I am just answering your question and if you would like to chat I would love to!  I'm just a local investor here in Ohio too!!

Thanks

Sondra